As 2021 comes to a close, we’re taking a look back at the top 10 articles of the year from Wealth Enhancement Group, as chosen by our readers. Browse our Best of 2021 articles below to revisit your personal favorites or discover something you may have missed.
Do I Need a Professional Financial Advisor?
Everyone knows they need to plan for retirement, but what exactly does that look like? Partnering with a financial advisor can help you establish a plan that ensures you’re working to address your retirement goals, because financial independence begins with a plan you can trust from an advisor you can trust. If you’re considering working with a financial advisor, here are a few questions to keep in mind.
December 2021 Investment Commentary
As we approach the end of 2021 and look toward next year, uncertainty surrounding a new COVID-19 variant, inflation, and expected monetary policy changes are top of mind. Despite these headwinds—and the likelihood that both economic growth and corporate earnings growth will slow in 2022—the U.S. economy is well-positioned for continued growth in 2022 and beyond.
Are Investment Apps Worth It? Hidden Dangers of Tech-Enabled Investing
Investing apps have become increasingly popular recently. While this level of investment activity is exciting in many ways, there are some concerns. If you're thinking of using an app to invest, it's important to consider the potential drawbacks to using these tools. The pitfalls discussed here are real and could result in financial losses.
7 Reasons to Check In with Your Tax Advisor Now
The year is winding down, and it will be 2022 before we know it—and then tax season arrives. Reaching out to your tax advisor now, before year-end, allows time for you to address things so there are fewer surprises later (and possibly save some money in the process). Here are seven topics to bring up to your CPA or tax preparer.
Are Tax Refunds Good or Bad?
When tax time rolls around, some people see checks in the mail from the IRS, while others send checks in. Those of you who like seeing money coming back might feel like the lucky ones, but that may not be the case. While it may feel like you’re being handed free money, there are downsides to that springtime pick-me-up. Read up on the pros and cons of tax refunds.
How to Generate Income in Retirement with Charitable Remainder Trusts
What if you could sell off a highly appreciated asset, avoid capital gains taxes and create a steady stream of retirement income for yourself or your loved ones? It may sound too good to be true, but those are just a few of the benefits of establishing a charitable remainder trust (CRT). Find out how a CRT works and how it can benefit you, your loved ones, and your favorite charities.
5 Ways to Decide How to Be Charitable with Your Time
Everyone is busy these days. For those looking to give back, donating your time—as opposed to your money—can be the most difficult form of charity. If you decide to volunteer your time or work for a non-profit, the question is how you choose between competing charitable opportunities. As you weigh your options, consider these five criteria.
Estate Tax Planning Using the Annual Gift Tax Exclusion
You want to make sure your loved ones can keep as much of their inheritance as possible. Nobody wants to see their legacy get chipped away by a large tax bill, but that’s exactly what could happen to your estate without careful planning. Find out what the annual gift tax exclusion is and how gifting strategies now can help reduce your estate tax burden in the future.
Is Your Estate Plan Built to Safeguard Your Financial Legacy?
No matter how you divide your assets, ideally, your estate plan should create a positive outcome. But unforced errors in your legacy plan have unintended consequences for your family and beneficiaries. Learn what can happen when your assets transition with your estate–and how to navigate these situations to help safeguard your legacy.
How to Keep Inflation from Eroding Your Savings
When it comes to saving for retirement, there are plenty of potential pitfalls to avoid. But one that often gets overlooked is failing to plan for inflation, because inflation can be one of the biggest threats to sustaining income throughout your retirement. Find out what you can do to make your money go farther in retirement.